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The RBI has already raised interest rates by 90 basis points after inflation remained above its 2-6 per cent target band for a fifth straight month and is expected to hike interest rates by another 80 bps, they said, , Normal Monsoon, interest rate, inflation, economists
Although the government has room to further reduce excise duty on petroleum products to contain inflation from the fiscal side, emphasis will be on monetary policy to control price pressures.
NEW DELHI, June 19: A combination of normal rainfalls aiding bumper agriculture output and the Reserve Bank of India (RBI) further hiking interest rates to cut easy money in the system hold key to bringing down multi-year high inflation triggered by surging food and fuel prices, economists said. Although the government has room to further reduce excise duty on petroleum products to contain inflation from the fiscal side, emphasis will be on monetary policy to control price pressures, they added. […]